CCEA approves extension of industrial incentive for HP and Uttarakhand
The Cabinet Committee on Economic Affairs (CCEA) approved the extension of the special package of industrial incentive for Himachal Pradesh and Uttarakhand till March, 2017. However, there was no extension in the key tax incentives under the excise and income-tax holiday scheme.
Benefit: It will help to generate employment, especially for rural youth and will give a boost to manufacturing and the Small and Medium Enterprises in the two States.
Other decisions by CCEA:
- Clearance to a proposal to reserve 30% of procurement orders by BSNL and MTNL for Indian Telephone Industries (ITI). This will enable ITI survive in the competitive environment of telecom manufacturing.
- Approval to a Rs. 761-crore road project in Odisha under its flagship, the National Highways Development Project and gave nod to four-laning of Jharpokharia-Baripada-Baleshwar section of NH-5 in the state. The project will expedite improvement of infrastructure in Odisha and reduce the time and cost of travel on the Jharpokharia-Baripada-Baleshwar route.